| QuickBooks is one of the most used accounting | | | | select the Job Costing and Class Tracking for |
| packages for small businesses around the country. | | | | Payroll Expenses and Assign One Class per |
| It is a very affordable program with many special | | | | Earnings Item |
| features you can use to track financial data for | | | | - Click OK |
| your business. | | | | This will allow you to enter a class code for each |
| To track income and expenses by any significant | | | | item on an employee's paycheck. If you are using |
| segment of your business, you may want to use | | | | the QuickBooks time tracking feature (Edit, |
| the class tracking feature in QuickBooks. You can | | | | Preferences, Time & Expenses, then click on Yes |
| use class tracking for non-profits to track grants | | | | to "Do you track time?"), you can further break |
| and restricted and unrestricted funds. You can | | | | down time by job and class code. |
| also use class tracking to tracking multiple | | | | Once your preferences are in place, create the |
| locations or divisions of a company. If you are | | | | class codes you want to track (go to the List |
| doing business with the government, you could | | | | menu, click on Class List, click on Class at the |
| use class tracking to track fixed priced jobs vs. | | | | bottom, and New, then enter a name for the |
| cost plus jobs, vs. overhead. To turn on class | | | | class and click on next or OK). To properly use |
| tracking: | | | | the class codes, be sure to enter the appropriate |
| - Go to the Edit menu and click on preferences, | | | | class code on every invoice, sales receipt, deposit, |
| then “Accounting” preference. | | | | bill, check, journal entry, etc. that you create. |
| - Click on the company preference tab, the select | | | | To create a report, go to the Reports menu, |
| the Use Class Tracking box. | | | | then Company & Financial, then Profit and Loss |
| - Click OK | | | | by Class. Select the dates you want to include. If |
| If you are using QuickBooks payroll, you can | | | | a column appears on the report called |
| assign a class code to each employee when you | | | | "Unclassified," these are income or expenses that |
| set up the employee. If it is important to assign | | | | have not been assigned a class code. Double click |
| employee time to multiple classes, you will need | | | | on the item and assign the appropriate code to |
| to change a preference: | | | | have that income or expense appear in the |
| - Go to the Edit menu and click on preferences, | | | | correct column. |
| then “Payroll & Employees” preference. | | | | Note: You can also create a budget by class, if |
| - Click on the company preference tab, then | | | | desired. |